Bitcoin is trading around $89,773.40. According to recent charts, BTC opened the day near $87,363.10, hit an intraday high around $90,393.40, dipped to a low of $86,334.80, and settled near the current price.
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BTC Next Target
- Price: $89,773.40
- Circulating Supply: 19.9 million BTC (fixed supply cap at 21 million)
- Market Cap: Approximately USD 1.78 trillion
- 24-Hour Trading Volume: $700bn
After price made a new ATH of $126k, it crashed four days later (flash crash on Oct 10th). It broke below $107K key level and 200 SMA, which signaled a bearish trend reversal to Downtrend. Near-term, it’s oversold, with RSI < 30.
It also approaches $82,000 support, hence, we could see a bounce up in the near-term.
Long-term, we believe that the FED is likely to continue to cut interest rates in the next 3 months by 50 bps or more, which should be bullish for BTC and altcoins.
Key Indicators & Market Signals
- BTC is hovering just above recent support levels around $86,000–$88,000.
- Resistance remains near $95,000–$100,000; a decisive break above could spark bullish momentum.
- On-chain data suggest renewed accumulation by “whales” (large holders), which may provide support in a volatile macro environment.
- Market sentiment remains cautious — November has seen larger-than-average drawdowns for Bitcoin, increasing uncertainty.
Latest Context & Market Mood
- November has emerged as one of the weakest months for Bitcoin in recent years, with prices falling significantly from October highs.
- Despite the drop, some analysts view the current price zone as a potential “local bottom,” pointing to stabilizing support and renewed accumulation.
- Overall crypto-market sentiment remains risk-off, with many investors opting for caution until macroeconomics or catalysts (like economic data or policy news) provide clearer direction.
BTC Breakout Levels
| Scenario | Key Levels | What to Watch For |
|---|---|---|
| Bullish Breakout | Above $95,000 — $100,000 | High volume breakout, return of ETF/institution flows |
| Consolidation | Between $86,000 – $95,000 | Whale accumulation, stable on-chain demand |
| Bearish Retest | Below $86,000 → potential $80,000 | Weak macro backdrop, large-scale liquidations |
Summary
Bitcoin trades near $89,773, consolidating after a sharp sell-off earlier in the month. With support around $86,000–$88,000 and resistance near $95,000–$100,000, BTC is at a potential inflection point.
On-chain signs of accumulation and stable liquidity suggest the possibility of a rebound — but macro uncertainty and weak sentiment keep risk elevated. The next few days may be critical in defining BTC’s short-term trend.
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